Funding arb · Price arb /

SAND

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.013%

Price spread now: BingX against Bybit+0.072%7-day average +0.016% · you sell dearer than you buy

Net, funding: paid 7d − costs−$40as in the Funding arb table

Net, price: spread back to 7d avg − costs−$47as in the Price arb table

costs, in and out, $10k−$520.524% of the position

Long on Bybit Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.126%+$13 on $10k

Price spread, last 7 days−0.081%−$8 · spread now +0.072%, 7d avg +0.016%

Together, before fees+0.045%+$4 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: BingX is 0.056% dearer against Bybit than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of +0.016%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit SANDUSDT	0.04165	0.0100	pay 0.0100% / 8h	1h 14m	$3.4M	$3.3M	75x
Short	BingX SAND-USDT	0.04168	0.0100	get 0.0100% / 8h	1h 14m	—	$2.4M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Bybit. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee BybitbpFee BingXbpOrdersPrice spread, now +0.072%Rate

Funding earned: $0
Price spread: +0.072% → +0.016%: $5.64
Slippage, 4 orders: −$31.39
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee BingX: 5 bp × 2 orders: −$10
Net: −$46.75
Costs to cover: 0.524%
Break-even: never at this rate

Slippage from Bybit: live order book, 3 min ago; BingX: live order book, 10 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Bybit live order book, 3 min ago	1.20 bp	13.0 bp −$13	37.2 bp −$372	doesn't fit	doesn't fit
Sell BingX live order book, 10 min ago	3.59 bp	12.5 bp −$12	25.4 bp −$254	159.5 bp −$15.9K	886.6 bp −$443.3K

SAND on 15 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid SAND	−0.0248%	1h	0.04164	−0.031%	$573K	$447K	5x	as long as short
Variational Omni SAND	−0.0207%	8h	0.04160	−0.121%	$113K	$4K	—	as long as short
Aster SANDUSDT	−0.0109%	8h	0.04168	+0.069%	$14K	$18K	10x	as long as short
Kraken Futures PF_SANDUSD	−0.0080%	1h	0.04172	+0.176%	$154K	$100K	25x	as long as short
Bitget SANDUSDT	−0.0047%	8h	0.04162	−0.072%	$1.7M	$544K	10x	as long as short
KuCoin SANDUSDTM	−0.0044%	8h	0.04162	−0.072%	$2.5M	$382K	50x	as long as short
BloFin SAND-USDT	−0.0026%	8h	0.04168	+0.072%	$322K	$292K	75x	as long as short
Extended SAND-USD	−0.0008%	1h	0.04167	+0.048%	$3K	$194K	10x	as long as short
MEXC SAND_USDT	−0.0004%	8h	0.04167	+0.048%	$11.7M	$1.7M	200x	as long as short
Binance SANDUSDT	−0.0002%	8h	0.04167	+0.056%	$6.6M	$12.4M	75x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective SAND/USDC PERP	+0.0033%	1h	0.04129	−0.864%	$757	$795	5.5x	as long as short
Bybit SANDUSDTlong	+0.0100%	8h	0.04165	long leg	$3.4M	$3.3M	75x
OKX SAND-USDT-SWAP	+0.0100%	8h	0.04168	+0.072%	$1.8M	$3.4M	50x	as long as short
Gate SAND_USDT	+0.0100%	8h	0.04168	+0.072%	$463K	$570K	75x	as long as short
BingX SAND-USDTshort	+0.0100%	8h	0.04168	+0.072%	—	$2.4M	—